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Nonprofiteer
← BARNET FOUNDATION TRUST INC

Form 990 for tax year 2024

Filed by BARNET FOUNDATION TRUST INC.

Totals

Total revenue
$38,213
Total expenses
$452,255
Contributions and grants received
$0
Grants paid
$428,334
Program service revenue
$0
Investment income
$38,213
Other revenue
$0
Total assets, end of year
$1,834,237
Total liabilities, end of year
$743
Net assets or fund balances, end of year
$1,833,494
Program services expenses (Part IX)
$428,334
Management and general expenses
$23,921
Fundraising expenses
$0
Program service expenses (Part III)
$428,334

Program services were 94.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $39,048 · excluded $39,048

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7b · Less cost or other basis and sales expenses

    securities $835

  • 7c · Gain or loss

    securities -$835 · other assets $0

  • 7d · Net gain or loss

    total -$835 · excluded -$835

  • 8c · Net income from fundraising events

    total $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $428,334 · program services $428,334

  • 11a · Fees: management

    total $23,921 · management and general $23,921

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: grant expense

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    end of year $6,030

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $2,063,478 · end of year $1,828,207

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    end of year $743

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $2,063,478 · end of year $1,833,494

Mission and programs · 2024

Mission

Charitable and philanthropic endeavors in support of and in conjunction with the Spartanburg county foundation.

  • Charitable and philanthropic endeavors in support of and in conjunction with the Spartanburg county foundation.

    Expenses $428,334 · Grants $428,334

As filed on the 2024 return.

Listed in Part VII

  • darlene hemphill

    secretary

    Total calculated
    $0
    Hours/week
    1

  • john s mcbride jr

    vice president

    Total calculated
    $0
    Hours/week
    1

  • katherine a dunleavy

    vice president

    Total calculated
    $0
    Hours/week
    1

  • valerie barnet

    president

    Total calculated
    $0
    Hours/week
    1

  • william barnet III

    chairman

    Total calculated
    $0
    Hours/week
    1

  • d byrd miller III

    director

    Total calculated
    $0
    Hours/week
    1

  • mary rebecca barnet

    director

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
16 July 2025
IRS schema version
2024v5.1
Source object
202511979349301611

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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